So I guess adjusting valves in conjunction with a compression leak down test is the next task. Does anyone recommend a compression or leak down tester that doesn't break the bank and has the 10mm adaptor? I don't have either but they would probably be good additions to the tool menagerie. Solved the mystery of the distributor not moving CCW. I had the cap off when I was playing with it and the cap hold down clip was catching the oil dipstick....

Hadn't touched it since last night in its "stuck" position. I do have a sneaking suspicion it might be the carb though since it runs fine sometimes and a leaking ring would probably run poorly consistently.